** Analysts see better profits ahead after write downs in Q4 due to decision to not rebuild a damaged petrochemical plant that Mexichem ran in a joint venture with state oil company Pemex

** Shares of Mexichem were trading at 54.28 pesos, up nearly 5.5 percent ** Trading near resistance around 55 pesos per share ** Breaking past 54.97 pesos per share would take stock to highest since late 2014